The government is seeking views from R&D tax relief claimants and other stakeholders on the scope of costs eligible for tax credits.
To ensure credits remain well-targeted and reflect modern R&D processes, HM Treasury has launched a consultation to determine whether the scheme should be broadened to include costs for data and cloud computing.
EmpowerRD will be filing a submission for the consultation and we’re keen to hear from our clients and other businesses who currently claim who use data and cloud computing services.
You can have your say by:
- Sharing feedback via our short survey here
- We will collate responses from the survey to form a detailed response to HMRC
We believe this consultation will be of interest to many, and welcome this initiative from the government as it develops its R&D tax credit strategy to ensure that the scope of qualifying expenditure remains appropriate in the years ahead.
Complete Guide to Research and Development Tax Credits
The UK government’s research and development tax credit scheme is designed to stimulate innovation in the UK economy. The program provides UK businesses with either cash credit or a corporation tax deduction to compensate for up to 33% of the cost of research and development.
You can read our full guide on R&D tax credits and eligibility here.